Segment Information

9 Months Ended

Jun. 30, 2011

Segment Information

Segment Information

NOTE 16 – SEGMENT INFORMATION

Management evaluates each segment's performance based on its segment profit, which is its operating profit before impairments of intangible assets, costs related to plant closures, and other unallocated corporate income and expenses.  The following tables present information about the Company's operating segments, which are also its reportable segments, including corresponding amounts for the prior year.

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Net Sales
Branded Cereal Products	$	244.1		$	242.7		$	721.0		$	749.2
Other Cereal Products		217.1			197.6			620.7			585.8
Snacks, Sauces & Spreads		383.0			359.9			1,182.6			1,067.4
Frozen Bakery Products		187.3			162.2			573.7			516.9
Pasta		140.4			-			419.8			-
Total	$	1,171.9		$	962.4		$	3,517.8		$	2,919.3
Segment Profit
Branded Cereal Products	$	54.0		$	54.1		$	160.6		$	158.2
Other Cereal Products		21.9			22.0			64.4			68.2
Snacks, Sauces & Spreads		26.0			35.9			96.7			123.9
Frozen Bakery Products		21.5			17.5			67.4			62.1
Pasta		27.1			-			91.9			-
Total segment profit		150.5			129.5			481.0			412.4
Interest expense, net		(33.0	)		(24.7	)		(102.5	)		(75.1	)
Provision for legal settlement		-			-			(2.5	)		-
Adjustments for economic hedges		(21.2	)		-			(10.4	)		-
Merger and integration costs		(1.2	)		(13.5	)		(1.5	)		(18.6	)
Amounts related to plant closures		(2.4	)		(.2	)		(2.8	)		(1.0	)
Impairment of intangible assets		(32.1	)		-			(32.1	)		(20.5	)
Stock-based compensation expense		(4.5	)		(2.4	)		(12.4	)		(11.9	)
Systems upgrade and conversion costs		(1.5	)		(1.2	)		(5.4	)		(3.8	)
Other unallocated corporate expenses		(12.0	)		(8.1	)		(27.1	)		(22.7	)
Earnings before income taxes	$	42.6		$	79.4		$	284.3		$	258.8
Depreciation and Amortization
Branded Cereal Products	$	14.7		$	14.2		$	43.8		$	41.6
Other Cereal Products		6.4			5.3			19.8			15.8
Snacks, Sauces & Spreads		10.0			9.0			30.5			25.9
Frozen Bakery Products		10.1			9.1			29.8			26.8
Pasta		13.1			-			39.4			-
Corporate		2.2			1.7			6.2			6.6
Total	$	56.5		$	39.3		$	169.5		$	116.7
	June 30,			Sept. 30,
	2011			2010
Assets
Branded Cereal Products	$	3,174.5		$	3,271.3
Other Cereal Products		268.3			268.7
Snacks, Sauces & Spreads		760.4			760.0
Frozen Bakery Products		721.5			743.4
Pasta		1,455.1			1,456.6
Total segment assets		6,379.8			6,500.0
Cash and cash equivalents		47.2			29.3
Investment in Ralcorp Receivables Corporation		-			137.8
Other unallocated corporate assets		311.1			137.8
Total	$	6,738.1		$	6,804.9